Onsemi (NASDAQ:ON) Shares Sold by KRS Capital Management LLC

KRS Capital Management LLC lessened its holdings in shares of Onsemi (NASDAQ:ON) by 9.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,365 shares of the semiconductor company’s stock after selling 770 shares during the quarter. KRS Capital Management LLC’s holdings in Onsemi were worth $464,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares during the period. Van ECK Associates Corp increased its holdings in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after buying an additional 31,889 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after acquiring an additional 326,734 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ON shares. Truist Financial reaffirmed a “hold” rating and set a $60.00 price objective (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. The Goldman Sachs Group cut their price objective on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company dropped their price objective on Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, TD Cowen cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.35.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Onsemi Price Performance

NASDAQ ON traded up $1.12 during trading on Friday, hitting $54.63. 7,293,412 shares of the company’s stock were exchanged, compared to its average volume of 6,274,120. The stock’s 50 day moving average price is $65.26 and its two-hundred day moving average price is $69.79. The company has a market cap of $23.26 billion, a PE ratio of 13.56, a P/E/G ratio of 5.29 and a beta of 1.64. Onsemi has a fifty-two week low of $53.10 and a fifty-two week high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the company earned $1.39 EPS. Research analysts expect that Onsemi will post 3.99 EPS for the current year.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.